Mobimo Business Update

Business Update
 

• Successful sale of the Ziil-Center in Kreuzlingen
• First rental success in the Office Tower at Escher-Wyss-Platz, Zurich
• Continued strong demand for the Edenblick condominium project in Oberägeri
• New Head of Portfolio and Transactions appointed

Lucerne, 5 November 2024 – Mobimo is taking a further step in its capital recycling strategy with the sale of the Ziil-Center in Kreuzlingen. Nadia Mastacchi completes the Executive Board as Head of Portfolio and Transactions.

As part of its active portfolio management, Mobimo continuously reviews whether individual properties in the investment portfolio are still aligned with the strategic priorities. In light of this, Mobimo has concluded that the Ziil-Center in Kreuzlingen is no longer an optimal fit for its portfolio due to its peripheral location. Other owners are better positioned to carry out the necessary repositioning of this property. Accordingly, the property was sold to a private investor from the region at book value (as at 30 June 2024, before sales costs) at the beginning of November in line with the capital recycling strategy.

Successful letting of Office Tower, strong demand in Oberägeri

The funds generated by the sale will be used to implement the project pipeline. The first success in letting the project at Hardturmstrasse in Zurich (Office Tower) was achieved at the end of October with the signing of the first rental agreement for one floor. Discussions are ongoing with other interested parties. However, due to slight construction delays, completion of the project will be postponed to the first half of 2025.

The Edenblick condominium project in Oberägeri continues to develop very positively. Of a total of 90 apartments, ownership has been transferred or reservations have been made for 82 appartements as at the beginning of November. Completion of the project is planned for the second quarter of 2026.

New Head of Portfolio and Transactions / Member of the Executive Board

Mobimo is pleased to announce that Ms Nadia Mastacchi (1983) will join the Executive Board as Head of Portfolio and Transactions on 1st March 2025. Nadia Mastacchi has a master’s degree in architecture from the Politecnico di Milano and has completed a range of continuing education courses in real estate, sustainability, management and leadership. Thanks to her many years of experience in portfolio management at well-known companies and institutional investors, she brings with her extensive knowledge of the entire real estate life cycle. Until Nadia Mastacchi joins the company, the department will continue to be managed ad interim by Daniel Ducrey.

Mobimo is also delighted to celebrate its 25th anniversary over the coming weeks and months. The company has been successfully developing and creating working, residential and living spaces with a great deal of passion and a sense of responsibility for a quarter of a century.

Upcoming events:
14 February 2025: Publication of 2024 financial results
31 March 2025:  Annual General Meeting
 

If you have any queries, please contact:
Contact for analysts and investors:
Stefan Feller, Head of Investor Relations
[email protected]
+41 44 397 11 97

Contact for media:
Anthony Welbergen, Head of Corporate Communication
[email protected]
+41 44 397 11 86

About Mobimo:
With a broadly diversified real estate portfolio that has a total value of approximately CHF 3.7 billion, Mobimo Holding AG (www.mobimo.ch) is one of the leading real estate companies in Switzerland. Its portfolio comprises residential and commercial properties, along with development properties both for the company's own portfolio and for third parties. The properties are in first-class locations in German-speaking and French-speaking Switzerland. The buildings are characterised by balanced diversification and diligent management. Mobimo uses its development projects to strengthen its income base and boost the intrinsic value of its portfolio. The company also creates investment opportunities for third parties through its development services. Mobimo has around 170 employees.